UK to replace EU’s GSP trading system with new scheme: BCCP

The Developing Country Trading (DCT) scheme, set to be launched by the UK in the Philippines in June, is seen to further grow trade between the 2 countries, British Chamber of Commerce of the Philippines Executive Director Chris Nelson said on Monday.

DCT is meant to replace the EU’s Generalized Scheme of Preferences (GSP), Nelson said.

The new trading scheme would cover 3.3 billion people, the British business leader said.

“This has been very well studied it’s not just covering the Philippines obviously it covers a number of countries but the Philippines will be a major beneficiary,” Nelson said.

“What it’s going to do particularly for the Philippines is continue to grow trade that’s already doing extremely well, I mean already we’re now at £2.4 billion...DCT will add further stimulus to the already growing trade between the two countries,” he added.

He said the DCT would focus on 4 main products namely electronics, coconut oil, spectacle lenses as well as processed fruits.

“There is a significant trade in electronics and obviously also in coconut oil and processed food,” he said.

Nelson said the DCT scheme would be launched in the Philippines on June 7.

We, Filipinos, pray more often than not. When there’s a typhoon coming, when our homes are under water due to flooding, or when the ground shakes so strongly, we call help from the Almighty.

It’s understandable. After all, we are part of what scientists call as “the Ring of Fire.” Actually, it’s the area in the basin of the Pacific Ocean where a large number of earthquakes and volcanic eruptions occur.

According to scientists, the Ring of Fire has 452 volcanoes and is home to over 75% of the world’s active and dormant volcanoes. The Philippines, for instance, has around 200 volcanoes scattered all over the archipelago. Fortunately, only 25 are considered active.

The Philippine Institute of Volcanology and Seismology says the active volcanoes in Mindanao are: Ragang and Matutum, both in Cotabato; Hibok-Hibok in Mambajao, Camiguin; Calayo in Valencia, Bukidnon; Bud Dajo on Jolo Island; Musuan in Bukidnon; and Makaturing in Lanao.

Most of the volcanoes in the country are also endowed with many natural springs. And it is for this reason that a research team from the University of the Philippines-Cebu and Adamson is exploring hot springs and vol-